Turkey suggests G20 countries more investment in infrastructure
Turkish President Recep Tayyip Erdogan on Friday called for more investment by G20 countries in infrastructure so as to reach their future targets in the meeting of G20 energy and natural resources ministers in Istanbul.
Turkish President Recep Tayyip Erdogan on Friday called for more investment by G20 countries in infrastructure so as to reach their future targets.
Addressing a meeting of G20 energy and natural resources ministers in Istanbul, Erdogan noted that by 2030, the global demand for investment in infrastructure will be between 70 and 90 trillion U.S. dollars
"Asian countries' demand is eight trillion dollars alone," he added. "The developing countries needs 1.5 trillion dollars infrastructure a year to reach their sustainable development targets."
The president stated that significant importance should be given to energy investment as it constitutes the biggest portion of the global infrastructure demand.
G20 members aim for a growth of 2.1 percent until 2018, thus making two trillion dollars in contribution to the global capital.
Erdogan urged private sectors to invest more in infrastructure and cooperate more with the public sector. "We can only overcome this problem with the solidarity and cooperation of private and public sectors," he added.
The ministers who are meeting for the first time are scheduled to discuss the energy challenges of today and the future, with focus on inclusive energy collaboration on the basis of the G20 Energy Principles agreed last year in Brisbane, Australia.
At their first day of meeting on Thursday, the ministers focused on access to energy for all 1.1 billion people who live without access to electricity. They will discuss on Friday possible actions and coordination through a G20 energy access action plan.
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